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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to continue its positive run. At the time of writing the benchmark index is up 0.3% to 5,973.6 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they are dropping lower:
The AMP Limited (ASX: AMP) share price is down over 2% to $1.86. The financial services company's shares were solid performers on Tuesday after announcing the receipt of the final regulatory approval required for the sale of its life business to Resolution Life. This morning analysts at Morgan Stanley responded to the news by holding firm with their equal weight rating and $1.40 price target.
The Qantas Airways Limited (ASX: QAN) share price has fallen 2% to $4.22. Investors may have been selling the airline operator's shares amid concerns over another spike in coronavirus cases in Victoria. If it isn't brought under control soon, there are worries it could delay the recovery in the domestic travel market.
The Qube Holdings Ltd (ASX: QUB) share price is down by 2.5% to $2.84. This morning analysts at Morgans downgraded Qube's shares to a reduce rating with a $2.45 price target. It appears to believe the company's shares are overvalued after a strong gain over the last few months. Qube's shares are up a massive 59% since this time in March.
The Transurban Group (ASX: TCL) share price is down over 1% to $14.62. This decline may have been driven by a broker note out of UBS this morning. According to the note, the broker has downgraded the toll road operator's shares to a neutral rating with a $14.85 price target. UBS made the move on valuation grounds after a strong rebound in its share price over the last couple of months.
